800 LAWS OF MARYLAND. [CH. 401

appropriated to them by the County Commissioners for the
support of the public schools of Anne Arundel County a suffi-
cient amount of money to meet the interest and to create a
sinking fund to pay the principal of said bonds as they mature
until the last of said bonds issued under this Act shall have
been paid and cancelled.

SEC. 6. And be it enacted, That said bonds shall be issued
in five series, each consisting of one-fifth of the amount of
bonds to be issued under this Act, and dated from the first
day of June, nineteen hundred and sixteen, and shall be re-
deemable as follows: The first series, five years after date;
the second series, ten years after date; the third series, fifteen
years after date; the fourth series, twenty years after date;
the fifth series, twenty-five years after date; and said bonds
shall be advertised and sold to the highest bidder, for cash by
the Board of County School Commissioners of Anne Arundel
County; provided said bonds shall not be sold for less than
their face value.

SEC. 7. And be it enacted, That for the purpose of redeem-
ing said bonds at their maturity, and for securing the prompt
payment of the interest thereon, said Board of County School
Commissioners and their Treasurer shall, for the year nineteen
hundred and sixteen, and annually thereafter, reserve a suffi-
cient sum to pay the annual interest on said bonds, and in
addition thereto the sum of four hundred dollars of the prin-
cipal of said debt; and the interest on said bonds shall be re-
ceived by the Treasurer of Anne Arundel County for taxes
upon presentation of the coupons of the current year, and the
said coupons taken as payment of taxes shall be accounted
for to the County Commissioners by the said Treasurer as
other vouchers and payments by him, and thereupon burned
and destroyed by the County Commissioners.

SEC. 8. And be it enacted, That the four hundred dollars
annually reserved by the said Board of County School Com-
missioners and their Treasurer, as provided by the preceding
Section to meet the said bonds issued by the said Board of
County School Commissioners, as provided for in this Act,
shall be kept by them entirely separate and distinct from any
other funds, and shall be accounted for by said Treasurer in
his annual statement to the said Board of County School Com-
missioners, and shall be kept by said Board of County School
Commissioners as a sinking fund for the redemption of said